Audacy has announced a slew of local leadership changes at clusters around the country, with several executives receiving promotions.
Gina Massenzi has been promoted to Senior Vice President and Market Manager of Audacy Las Vegas. She will oversee news/talk station 840 AM KXNT. She previously served as the Director of Sales for the cluster since 2014. Massenzi is a member of the Nevada Broadcasters Hall of Fame.
Dan Barron has been named the Senior Vice President and Market Manager of Audacy New Orleans, which includes WWL. He moves to The Big Easy after previously serving as the Senior Vice President and Market Manager for Audacy in Memphis since 2008.
Bob Mackay, who was previously Senior Vice President of Audacy Austin, has been moved to serve as Vice President of Sales at Audacy Dallas. Mackay joined the company in Austin 2020, which included overseeing Talk Radio 1370 KJCE-AM.
Additionally, three regional presidents have added new responsibilities. Doug Abernethy will now oversee Audacy Austin, which resides in his home market. Also, Brian Purdy will now have oversight of the company’s stations in Chicago, Madison, and Milwaukee. Finally, Mark Hannon will take over regional duties for Audacy Minneapolis.
“We have a very strong leadership team that has enabled us to make strategic changes and promote talent with multi-year track records of success. These leadership moves continue to position our local brands to deliver exceptional listener experiences and client value while reinforcing our commitment to excellence in the communities we serve,” said Audacy Chief Operating Officer Susan Larkin. “We are confident in Gina, Dan, Bob, Doug, Brian and Mark’s ability to drive growth across their respective markets.”
The announcement of the leadership changes comes just more than a week after the company filed for Chapter 11 bankruptcy with a prepackaged plan with its creditors. With the bankruptcy filing, the radio giant hopes to remove more than $1 billion in debt.
Court Approves Audacy Reorganization Plan
“We have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business.”
A United States Bankruptcy Court for the Southern District of Texas has approved a plan for Audacy to reemerge from its bankruptcy proceedings.
Under the plan, Audacy will equitize more than $1.5 billion of funded debt, which reduces its debt load by 80%, down from $1.9 billion to $350 million.
Audacy Chairman David Field was encouraged by the development.
“Today’s announcement marks a powerful step forward for Audacy, positioning the Company for an exciting future,” said David Field, who also serves as the President and CEO of Audacy. “As expected, we have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business.
“We aim to drive accelerated growth and financial performance, capitalizing on our scaled, leadership position, our uniquely differentiated premium audio content and the robust capital structure that we will have upon emergence,” continued Field. “I also want to express my gratitude to our team, who continue their outstanding work to serve our listeners and customers with excellence and fulfill our commitments without missing a beat.”
A statement from the company claims the restructuring “will enable Audacy to continue its strategic digital transformation and capitalize on its position as a scaled, leading multi-platform audio content and entertainment company differentiated by its exclusive, premium audio content.”
Fox News Begins 2024 Atop Key Digital Media Demographics
Fox News finished its 35th consecutive month atop the multiplatform minutes rankings, with 3.3 billion minutes according to a report from Comscore.
Fox News Digital began 2024 by sitting atop the rankings in several key demographics in the digital media landscape.
In multiplatform views, the outlet tallied 1.7 billion, with The New York Times scoring 1.5 billion. That marked the 16th consecutive month Fox News Digital finished on top.
6 million unique visitors visited the conservative cable outlet’s mobile app, which bested CNN, which tallied 5.4 million unique visitors.
Political Ad Spending Sees Highest Levels in Los Angeles, New York, San Francisco
AdImpact has tracked 465 unique political ads across broadcast stations. In the 209 markets being monitored, political ads have aired a combined 87, 536 times.
As the 2024 election season continues to take shape, political advertising is seeing large gains in three major metropolitan areas.
AdImpact has tracked nearly $110 million in political ad spending over the past two weeks, with the largest recipients of those figures being Los Angeles ($13.2 million), New York ($10.5 million), and San Francisco ($7.2 million).
Thus far, the highest-spending advertisers are the Adam Schiff for Senate campaign, as the current representative vies for the spot vacated by the death of Diane Feinstein. The campaign has spent $8.1 million.
Additionally, the American Values PAC — a political action committee supporting Democrat Robert F. Kennedy Jr. — spent $7.2 million.
Finally, the Yes on Prop 1 in California campaign — which will attempt to tackle mental health issues in the state — has spent $5.4 million in advertising.
In total, AdImpact has tracked 465 unique political ads across broadcast stations. In the 209 markets being monitored, election ads have aired a combined 87, 536 times.